The UNU-IAS Report Bioprospecting in the Arctic examines the extent and nature of bioprospecting in the Arctic. It argues that there is significant interest in the biotechnology potential of Arctic biodiversity. In many cases this potential has moved beyond the research of the academic community to commercialisation by industry. In fact given the number of companies involved in research on or the actual exploitation of biotechnology based on Arctic genetic resources (fourty three companies in total) one clear conclusion is that this industry, in various forms, is well established. This conclusion is supported by the existence of more than thirty-one patents or patent applications based on Arctic genetic resources.